Risk & Compliance: What’s the Difference?

By definition, risk can affect our ability to meet our goals and objectives. Without measuring risk, we cannot effectively prioritise or manage those risks while pursuing those objectives.

This course provides an introduction to the dimensions or characteristics of risks we can measure, and the main types of methods used to measure risk, covering qualitative, semi-quantitative and quantitative methods.

Course description

In this course, you'll learn:

1. Why risk measurement matters
   
   • Why we measure risk
   • Why the method matters
     
     
2. What we are measuring
   • Definitions of risk
   • Dimensions of risk can be measured
   • Difference between qualitative, semi-quantitative and quantitative
     
     
3. Qualitative methods
   • Subjective labels
   • The use of risk matrices
   • The influence of colour in qualitative methods
   • Strengths and limitations
     
     
4. Semi-quantitative methods
   
   • Scoring models
   • Scoring applied to risk matrices
   • Scoring in Failure Mode Effects Analysis
   • Strengths and limitations
     
     
5. Quantitative methods
   • Subjective labels
   • Measuring in ranges
   • Representing risk as a shape
   • An introduction to Monte Carlo simulation
   • Example outputs from quantitative methods
   • Simplified quantitative methods
   • Relationship to risk metrics
   • Strengths and limitations
     
     
6. Applying the measurement methods
   • Choosing which method to use
   • Who needs to measure

Course expectations

• Watch 6 videos
• Answer 7 quiz questions

Timings

• 30 minutes of video content
• Approximately 45 minutes for the whole course

Cost

• US$49 payable by credit card on registration

Next steps

You can purchase and access this course on-demand via Protecht Academy by credit card.

Please contact Protecht directly if you would like to discuss packages to implement this training across your organization. Bulk discounts are available and packages can be invoiced in your local currency.